ANSS closes above its opening price after recovering from early selling pressure
Moving lower for the 2nd day in a row, ANSS ended the week -1.0% lower at 171.53 after losing $0.48 (-0.28%) today. Today's closing price of 171.53 marks the lowest close since August 1st. Trading up to $1.10 lower after the open, ANSYS managed to reverse during the session as bulls took control ending the day above its opening price. Closing below Thursday's low at 171.69, the share confirms its breakout through the previous session's low having traded $1.63 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $1.89 (1.1%), that's below last trading month's daily average range of $3.45. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 171.23.
Though the market is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.
Further selling could move prices lower should the market test July's close-by low at 167.50.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for ANSYS
|Close to R1 Resistance||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|Bearish Bounce off SMA 20||TQ Pro Members Only|
|High close to previous two Highs||TQ Pro Members Only|
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